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Microsoft reported strong sales in its latest quarter, with $56.5 billion in sales, up 13% from a year earlier. Profit reached $22.3 billion, up 27%, beating analyst expectations. The company's investments in generative artificial intelligence (AI) were starting to boost sales, particularly in the cloud computing sector.
Microsoft has unveiled its financial results for the quarter ending September 30, demonstrating robust performance driven by its cloud services division.
Microsoft’s $56.5 billion in sales and $2.00 earnings per share compared favorably to consensus analyst estimates of $54.5 billion and $2.65, respectively.
Microsoft said it will spend $3.2 billion expanding its artificial intelligence (AI) and cloud computing abilities in Australia over two years as part of a wide-ranging effort that includes skills training and cyber security.
Microsoft is preparing for the launch of its latest AI assistant, Microsoft 365 Copilot, integrated within its Office applications, enabling users to harness AI capabilities for a range of tasks.